Meyer Handelman Co. Sells 65,906 Shares of McDonald's Co. (MCD)

Meyer Handelman Co. reduced its position in McDonald's Co. (NYSE:MCD) by 34.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,058 shares of the fast-food giant’s stock after selling 65,906 shares during the quarter. Meyer Handelman Co.’s holdings in McDonald's were worth $19,751,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCD. Phocas Financial Corp. acquired a new position in shares of McDonald's during the 2nd quarter worth $107,000. Proficio Capital Partners LLC grew its stake in shares of McDonald's by 0.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock worth $117,000 after purchasing an additional 5 shares during the period. Howe & Rusling Inc. grew its stake in shares of McDonald's by 75.0% during the 3rd quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock worth $132,000 after purchasing an additional 360 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of McDonald's during the 2nd quarter worth $153,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of McDonald's during the 2nd quarter worth $162,000. 67.27% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on MCD. Royal Bank of Canada set a $190.00 price target on shares of McDonald's and gave the stock a “buy” rating in a research note on Wednesday. Nomura set a $183.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Longbow Research upgraded shares of McDonald's from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $154.05 to $183.00 in a research report on Thursday, September 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $180.00 price objective (up from $170.00) on shares of McDonald's in a research report on Monday, October 2nd. Finally, Barclays set a $182.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. McDonald's has a consensus rating of “Buy” and a consensus target price of $175.62.

In other McDonald's news, VP James R. Sappington sold 8,046 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $165.00, for a total value of $1,327,590.00. Following the transaction, the vice president now directly owns 15,739 shares in the company, valued at approximately $2,596,935. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen Easterbrook sold 171,577 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total transaction of $28,879,840.64. Following the transaction, the insider now owns 49,778 shares in the company, valued at $8,378,632.96. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

McDonald's Co. (MCD) opened at $171.29 on Wednesday. The stock has a market cap of $136,653.56, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of -8.17. McDonald's Co. has a 1-year low of $118.18 and a 1-year high of $175.78.

McDonald's (NYSE:MCD) last released its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.01. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.75 billion. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. equities research analysts predict that McDonald's Co. will post 6.53 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Meyer Handelman Co. Sells 65,906 Shares of McDonald's Co. (MCD)” was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/12/27/meyer-handelman-co-sells-65906-shares-of-mcdonalds-co-mcd.html.

McDonald's Profile

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit